Now that my nose is no longer pushed tightly up against the market as a lender I can see things much more clearly and objectively.
I can see that there are opportunities in the market. I can also see that obvious issues like funding and capital restraints, dual pricing and underwriting issues are acting as blinkers to what’s going on.
And this applies to lenders and intermediaries. This is not a criticism, as I can empathise – it’s an observation.
For example, some lenders are not focussing on the needs of brokers and have a product-led approach to the market.
They need a customer-led strategy – and by customer I mean intermediary – that delivers a strong service proposition, rather than launching products with good rates from time to time.
I also don’t think lenders are segmenting the mortgage market in the right way.
They are applying old techniques and not maximising efficiencies. Moreover, I think the blinkers prevent them seeing what is happening internally and the result is a lack of joined-up thinking and delivery.
Being blinkered applies to brokers too. In a tough market that is full of Mortgage Market Review debates, not all brokers have thought about how they should reposition themselves or how to take advantage of the opportunities that market changes inevitably throw up.
So take off the blinkers, look around you and always try to see your glass as half full.